You will find that many of F-Zero's later tracks contain shortcuts that let you jump ahead by using jump plates. Look at the track layout in the lower left corner of your screen to see potential shortcuts. To land without losing speed:
You can avoid bouncing by pressing down on the pad just prior to landing.

To get the fastest start possible, hold down your accelerator prior to the start and rev the engine to the point where your fuselage(s) begin to light up. Listen to the engine sound because you want it to be in the mid-range and not the high-pitched. If the engine is in the mid-range when the race starts, you will get a fast start that propels you in front of the pack. If you rev the engine too high, you will also boost ahead but then lose power and slow down for a few seconds.

To successfully maneuver tight corners without hitting into the guard rails, take your finger off the accelerator (A Button), then press it again to stabilize your racer. Combine this with the L and R drifting to get the best times.

Nintendo has made F-Zero with tournament play in mind. You can not upload your best times or take screenshots, the game features but there is a built-in ranking cheat-password system. To get an encrypted cheat-password for your best track times:
Select Course Ranking from the main menu
Select your name and the track you would like to get a cheat-password for
Now hold the L-Button and press up, right, right, B, left, B, A

Your tournament entry cheat-password will now show at the top of the screen.

The hidden Master difficult level is unlocked by beating a series' Expert difficulty level in the Grand Prix Mode. However this will unlock the Master setting only for that series. You still have to win the Expert setting on the other cups to get access to all the Master classes.

Championship Mode is a hidden option that lets you race a Time Attack challenge against a ghost car on a specialy Synobazz track. The mode also offers the ability to see a replay of the winning run, complete with button commands display.
To unlock Championship , register your name in the rankings of every race in every series. Good Luck!

You have to complete each racing series on Master difficulty with each machine (chess icons next to the track selection screen show you which series you have already beaten with the respective racer). Sound to hard? You can also unlock Vermilion by completing the championship 255 times.

Better yet, you can cheat:
Go to the Grand Prix mode and push L, R, START, R, L, SELECT.
Enter this code: 2-8+08T2YQ30 for the password.